Burberry increases store closures under turnaround strategy

London - Luxury fashion house Burberry has increased the number of store closures during the financial year to March 31, 2018. The heritage brand closed 34 stores across the globe during the year, including seven outlets.
However, Burberry also opened 14 new stores throughout the year, bringing the net store closures to 20. “We closed net six outlets, including three in the Americas, in line with our plans,” said Marco Gobbetti, Chief
Executive Officer at Burberry during its preliminary results presentation for the year to March 31, 2018, Wednesday morning.
“We are refining our portfolio...Read more ...